Engine Capital Management LP Lowers Stake in The RMR Group Inc. (NASDAQ:RMR)

Engine Capital Management LP decreased its position in The RMR Group Inc. (NASDAQ:RMR) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,979 shares of the financial services provider’s stock after selling 3,782 shares during the quarter. The RMR Group accounts for approximately 0.5% of Engine Capital Management LP’s portfolio, making the stock its 29th largest position. Engine Capital Management LP owned about 0.35% of The RMR Group worth $2,508,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new stake in shares of The RMR Group in the 2nd quarter valued at $292,000. Garner Asset Management Corp grew its position in The RMR Group by 14.8% in the 2nd quarter. Garner Asset Management Corp now owns 282,528 shares of the financial services provider’s stock valued at $6,385,000 after acquiring an additional 36,369 shares in the last quarter. Renaissance Technologies LLC grew its position in The RMR Group by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 454,217 shares of the financial services provider’s stock valued at $10,265,000 after acquiring an additional 1,303 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of The RMR Group by 4.7% during the second quarter. Federated Hermes Inc. now owns 527,826 shares of the financial services provider’s stock worth $11,929,000 after purchasing an additional 23,654 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of The RMR Group by 327.6% in the second quarter. Meeder Asset Management Inc. now owns 2,677 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 2,051 shares during the period. 42.31% of the stock is currently owned by institutional investors and hedge funds.

The RMR Group Stock Down 0.4 %

Shares of RMR opened at $24.88 on Tuesday. The company has a market cap of $789.47 million, a P/E ratio of 9.25 and a beta of 1.26. The firm’s 50 day moving average price is $24.93 and its 200 day moving average price is $23.92. The RMR Group Inc. has a fifty-two week low of $21.60 and a fifty-two week high of $28.82.

The RMR Group (NASDAQ:RMR) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The RMR Group had a net margin of 2.80% and a return on equity of 6.95%. The company had revenue of $205.48 million during the quarter, compared to analyst estimates of $227.68 million. During the same period in the prior year, the business earned $0.48 EPS. Research analysts forecast that The RMR Group Inc. will post 1.64 earnings per share for the current year.

The RMR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 22nd were paid a dividend of $0.45 per share. The ex-dividend date was Monday, July 22nd. This represents a $1.80 annualized dividend and a yield of 7.23%. The RMR Group’s dividend payout ratio is currently 66.91%.

About The RMR Group

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides asset management services in the United States. The company offers management services to its four publicly traded real estate investment trusts, three real estate operating companies, and private capital vehicles. It also provides advisory services to publicly traded mortgage real estate investment trust.